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Japan's economy in recession: Yosano+(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, Nov. 17_(Kyodo) _ (EDS: TO BE LED) Japan's Economic and Fiscal Policy Minister Kaoru Yosano said Monday the second straight quarter of contraction in July-September gross domestic product for Japan shows the nation's economy is in a recession. The GDP "shows that the economy is in a recessionary phase," Yosano told reporters. As for the outlook, he said, "As the global economy is expected to slow down for the time being, downward movements (in Japan) are expected to continue." The government said Monday morning Japan's economy shrank an annualized 0.4 percent in real terms in the July-September quarter, the second straight quarter of contraction. Copyright ? 2008 Kyodo News International, Inc. |